Late payment of mvat

This query is : Resolved 

02 June 2013 How to calculate interest on late payment of MVAT?

02 June 2013 Interest is 1.25% Per Month. First calculate the delay in days and apply the rate day wise.

03 June 2013 Could you please explain with an example.


04 June 2013 Okey Suppose your due date is 21-4-2013 & you paid vat on 30-5-2013 then delay in day's is 39days. Suppose tax payable is Rs 10,000/- then it will be

([10,000*1.25*12%]/365*39) that is 160.2 Rs.

Hope Now your doubt is clear.
If not you can PM me.

16 June 2013 Thank you Sir.

16 April 2016 @ Rahesh its not daywise but month wise, Reg



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries